Newman Village Townhomes Residential Community, Inc.

What Newman Village Townhomes Residential Community, Inc.'s governing documents say

This is an Assessment Collection Policy for Newman Village Homeowners Association in Frisco, TX. It is a board-adopted policy detailing how the HOA collects delinquent assessments, late fees, and interest — not the community's full governing documents. It applies to all lot owners in the association.

• Due dates & late charges: Regular assessments are due on the first of the month. If not paid by the late date, the HOA may charge late fees and interest at the highest rate allowed by law. Insufficient fund checks incur separate fees.
• Payment application order: Payments are applied oldest to newest in this order: delinquent assessments, current assessments, attorney fees/costs for delinquent accounts, other attorney fees, then other charges.
• Payment plans: The HOA offers payment plans for delinquent owners with terms from 3 to 18 months. Reasonable administrative costs and interest may be charged.
• Collection procedures: If an account remains delinquent, the HOA sends notices, orders a title search, records a notice of lien, and may refer to an attorney. The owner bears all collection costs, including title reports, certified mail, and attorney fees.
• Suspension of amenity use: The board may suspend use of common area amenities by an owner or tenant whose account is delinquent for at least 30 days.
• Acceleration of installments: For non-regular assessments payable in installments, a default may cause the HOA to accelerate the entire balance after 15 days' notice to the owner.
• What this document doesn't cover: This policy is only about assessment collection. It does not cover community rules on pets, leasing, parking, architectural review, age restrictions, or any other typical HOA covenants. Those are in the community's CC&Rs, not shown here.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.